The Dallas Commercial Real Estate Market

Shanti Ryle

April 3, 2026

The cityscape of Dallas, TX with its downtown skyline

Dallas–Fort Worth offers a broad, well-balanced CRE market, with activity spread across the industrial, multifamily, office, and retail sectors.
Industrial space plays a key role in the market, with ongoing demand tied to distribution, manufacturing, and data-driven users.
Office performance varies by location and building quality, with stronger interest in well-positioned, amenity-rich properties.
New supply in multifamily has started to ease, helping bring the market closer to balance as leasing demand holds.
Retail activity is anchored by service-based tenants and neighborhood centers, with investors focusing on stable, well-located assets.

Dallas continues to rank among the most active commercial real estate markets in the country, supported by ongoing population growth, business expansion, and a diverse economic base. Activity across the Metroplex spans a wide range of property types, from office and retail corridors to large-scale industrial development, reflecting a market that continues to grow while maintaining stable fundamentals.

Crexi supports that activity by bringing together listings, market data, and research tools in one place. Brokers across Dallas–Fort Worth use the platform to manage listings and track engagement, while investors and tenants can evaluate opportunities with a clearer view of the market. Across the U.S., Crexi has facilitated more than $902 billion in closed transactions and generated over 114 million leads, giving users access to both data and real-time demand signals.

In North Texas, Crexi serves professionals across Dallas, Fort Worth, Arlington, Plano, and surrounding Metroplex communities. Whether sourcing new deals or bringing a property to market, the platform helps connect local insight with broader visibility, supporting a market that continues to attract attention from across the country.

Another angle of Dallas' downtown skyline during the day

Dallas Commercial Real Estate Overview

The Dallas–Fort Worth Metroplex has built its reputation on scale, access, and consistency. Corporate headquarters sit alongside major logistics hubs, while fast-growing suburbs continue to expand the market’s reach. That mix makes Dallas a reliable option for businesses looking for room to grow without the constraints seen in tighter markets.

For the second year in a row, Dallas ranked first among the nation’s top commercial real estate markets, with strong buy recommendations in retail and industrial, according to PwC and the Urban Land Institute. Even as conditions shift, the market continues to stand out at a national level.

At the same time, Dallas is working through many of the adjustments seen across major metros. Some property types are recalibrating, while others remain steady in well-located areas with strong access and amenities. New development has added inventory in certain pockets, giving tenants more choice while placing greater emphasis on quality.

Even with these shifts, the overall outlook is positive. Dallas offers a balance of scale, relative affordability, and infrastructure that continues to support long-term investment, with opportunity tied to how different submarkets evolve over time.

Dallas Regional Breakdown

The Dallas–Fort Worth Metroplex has grown into one of the largest and most active regions in the country, and that growth is still playing out across the map. Growth extends beyond the urban core, with surrounding cities and suburbs continuing to expand alongside it, shaping how people live and where businesses choose to locate.

A relatively young population, rising incomes, and a cost of living that remains competitive all contribute to that momentum. Together, these factors help explain why the region continues to attract new residents and interest from across the country.

More than 8.3 million people live within the Dallas-Fort Worth-Arlington Metro Area, with 1.3 million residents located in Dallas city limits.
In 2025, Dallas–Fort Worth was the second-fastest-growing metro area in the U.S., trailing only Houston.
Other major cities in the Metroplex include Arlington, Plano, Irving, Denton, Richardson, and Grapevine.
The median age in Dallas-Fort Worth-Arlington is 35.8, about 10% younger than the U.S. figure.
Per capita income in the metroplex is $46,770, while the median household income is $92,733 (about 10% higher than the U.S. overall). About 47% of households in the area earn over $100,000 per year.
For more than a decade, Texas has led the nation in economic development, according to Site Selection magazine, with Dallas–Fort Worth consistently ranking among the top three metro areas.
Dallas-Fort Worth has been named the most livable metro area in Texas, based on factors like quality of life, cost of living, and community.
The cost of living in Dallas-Fort Worth is about 4% lower than the national average, with housing costing about 20% less than comparable metros.

A closeup of a significant building in downtown Dallas

Dallas Job Market

The Dallas–Fort Worth job market reflects the size and diversity of the region, with a broad mix of industries supporting steady employment across the Metroplex. Long-established sectors continue to anchor the economy, while newer areas of growth add to that momentum.

A strong base of corporate headquarters, combined with an excellent pipeline of talent from local universities, helps sustain ongoing business activity. At the same time, continued investment in large-scale projects, from mixed-use developments to major infrastructure and manufacturing initiatives, points to a market that is expanding in both scale and opportunity.

The Dallas-Fort Worth-Arlington metro area ranks fifth in the nation for gross domestic product, totalling nearly $745 billion based on the most recent data.
The unemployment rate in Dallas-Fort Worth is 3.6% significantly lower than the U.S. average.
Major employers in the region include UT Southwestern Medical Center, the Dallas Independent School District, Southwest Airlines, and the City of Dallas.
Dallas is a major hub for corporate headquarters, home to 8 Fortune 500 companies, with an additional 21 located across the broader Dallas–Fort Worth region.
Key industries in the Metroplex include logistics and trade, technology, professional and business services, public administration, manufacturing, and leisure and hospitality.
Six cities in DFW were counted among the top 50 Best Large Cities to Start a Business in 2025, which evaluated factors such as costs, access to resources, and business environment.
Over 40% of residents hold a bachelor’s degree or higher, a rate that is higher than both the U.S. and Texas figures.
The Metroplex is anchored by several well-known universities, including the University of Texas at Dallas, Texas Christian University, and the University of North Texas.
The metro area boasts a comprehensive transportation network, including major interstates like I-20, I-30, and I-35. The award-winning Dallas/Fort Worth International Airport (DFW) is one of the largest and busiest airports in the world, and there are extensive public transit options provided by DART.
Major CRE projects in Dallas include The Shops at RedBird, expansion in Downtown Dallas, the Arlington Entertainment District, and the construction of multiple semiconductor fabrication plants for Texas Instruments.

A watertower and a few commercial buildings in downtown Dallas

Dallas Industrial Market

Industrial activity across Dallas–Fort Worth remains one of the strongest drivers of the region’s commercial real estate market, supported by demand from logistics, manufacturing, and data-related uses. Areas like South Dallas and Alliance have seen consistent leasing interest, reflecting the region’s role as a key distribution hub with access to major transportation networks.

While new development over the past few years has added supply in certain segments, demand has continued to keep pace, helping the market stay balanced overall. Leasing activity has stayed active across a range of building sizes, with tenants continuing to prioritize location, efficiency, and access to labor. Even as conditions shift, the industrial sector continues to benefit from the region’s scale, connectivity, and long-term growth trends.

Market overview (Cushman & Wakefield Q4 2025)

Inventory: 1,026,225,706 SF
Vacancy rate: 8.2%
Absorption: 31,115,046 SF (YTD)
Leasing activity: 52,959,405 SF (YTD)
Key leases by tenant: Hayes Company (1,497,651 SF), Google (1,084,460 SF), Google (1,014,254 SF), Moonshot (505,265 SF)
Completions: 19,629,197 (YTD)
Under construction: 31,347,140 SF
Largest submarkets: Great Southwest, DFW Airport, South Dallas, Alliance

Crexi Insights

These are the most recent Dallas industrial lease and sales trends from Crexi Insights (as of March 2026):

For Lease (active)

Asking rate/SqFt (median): $12 per year
Median SqFt/listing: 5,391
Days on market: 190
Total listings on Crexi: 323 spaces

For Sale (active)

Median asking price: $1.6 million
Price/SqFt: $230
Asking cap rate: 3%
Days on market: 196
Total listings on Crexi: 113

Sales Comps (past 12 months)

Median sold price: $2.2 million
Sold price/SqFt: $143
Total sales volume: $2 billion
Median SqFt sold/transaction: 10,900
Total SqFt sold: 4.2 million
Days on market (median): 504

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A trolly rolling through Downtown Dallas around its offices

Dallas Office Market

The Dallas–Fort Worth office market is gradually finding its footing after a period of adjustment, with activity improving in several key submarkets. Leasing has picked up, particularly in areas like Legacy/Frisco and Richardson/Plano, as tenants continue to prioritize quality space in well-located, amenity-rich environments.

At the same time, overall vacancy remains elevated, and many buildings are still working to reposition or attract new tenants. New development has slowed, with most activity focused on projects that are already well-leased or part of larger mixed-use plans. As the market continues to stabilize, performance is becoming more defined by location, building quality, and how well spaces align with evolving tenant needs.

Market overview (Cushman & Wakefield Q4 2025)

Inventory: 215,240,367 SF
Vacancy rate: 25.9%
Net absorption: 2,159,567 SF (YTD)
Leasing activity: 12,903,590 SF (YTD)
Key leases by tenant: Unleashed Brands (50,594 SF), Hospitality Solutions (40,976 SF), Sirius XM (40,000 SF)
Under construction: 1,587,039 SF
Largest submarkets: Las Colinas, Legacy/Frisco, Richardson/Plano, Far North Dallas

Crexi Insights

For the latest updates on the Dallas/Fort Worth office market, turn to Crexi Insights. Here is the detailed information on recent sales and leasing trends as of March 2026.

For Lease (active)

Asking rate/SqFt (median): $17 per year
Median SqFt/listing: 1,505 SF
Days on market: 428
Total listings on Crexi: 1,898 spaces

For Sale (active)

Median asking price: $1.3 million
Price/SqFt: $247
Asking cap rate: 0%
Days on market: 154
Total listings on Crexi: 108

Sales Comps (past 12 months)

Median sold price: $2.1 million
Sold price/SqFt: $177
Total sales volume: $1.2 billion
Median SqFt sold/transaction: 9,815 SF
Days on market (median): 416

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A few from beyond multiple freeways of Dallas' downtown skyline

Dallas Retail Market

Retail activity across Dallas–Fort Worth continues at a consistent pace, with demand holding across both urban corridors and growing suburban areas. Well-located centers are still attracting tenants, especially those focused on everyday services, dining, and neighborhood-driven retail.

New development has been more measured, but existing space continues to see healthy interest, keeping availability relatively tight in many parts of the region. While investment activity has become more selective, well-positioned retail assets continue to draw attention.

Market overview (CBRE Q3 2025)

Inventory: 253,588,000 SF
Vacancy rate: 4.9%
Net absorption: 132,000 SF
Key transactions by buyer: Onyx Partners Ltd. (99,845 SF; 83,455 SF), ALTO RE Funds (216,604 SF), Ibni Investments LLC (182,806 SF)
Completions: 403,000 SF
Largest submarkets: Outlying Dallas, Central Dallas, Lewisville, Central Plano

Crexi Insights

Retail lease and sales trends from Crexi Insights (as of March 2026):

For Lease (active)

Asking rate/SqFt (median): $19 per year
Median SqFt/listing: 2,585 SF
Days on market: 292
Total listings on Crexi: 840 spaces

For Sale (active)

Median asking price: $2.2 million
Price/SqFt: $383
Asking cap rate: 6%
Days on market: 197
Total listings on Crexi: 179

Sales Comps (past 12 months)

Median sold price: $1.4 million
Sold price/SqFt: $215
Total sales volume: $2.4 billion
Sold cap rate: 7%
Median SqFt sold/transaction: 4,018 SF
Days on market (median): 614

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A grafitti sign saying "Deep Ellum" in Dallas

Dallas Multifamily Market

The multifamily market in Dallas–Fort Worth continues to be shaped by strong population growth and steady renter demand, even as it works through a wave of recent deliveries. New construction has begun to slow, helping bring supply and demand into better balance after a period of elevated development.

Leasing activity remains active across much of the region, supported by continued in-migration and relative affordability compared to other major metros. While rent growth has softened in the near term, the overall outlook remains stable, backed by long-term growth trends and sustained interest from both renters and investors.